By William Gullotti
Buffalo, N.Y., Aug. 15 – GS Finance Corp. priced $1.97 million of 0% autocallable index-linked notes due July 25, 2025 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index closes at or above its initial level on July 24, 2023, the notes will be called at par plus a 13.4% call premium.
If the notes are not called and each index finishes at or above its initial level, the payout will be par plus 1.5 times the return of the laggard index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
If any index falls by more than 30%, investors will be exposed to the decline of the worst performing index from its initial level.
The notes are guaranteed by Goldman Sachs Group, Inc.
Goldman Sachs & Co. LLC is the agent.
| Issuer: | GS Finance Corp.
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| Guarantor: | Goldman Sachs Group, Inc.
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| Issue: | Autocallable index-linked notes
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average
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| Amount: | $1.97 million
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| Maturity: | July 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the notes are not called and each index finishes at or above its initial level, par plus 1.5 times the return of the laggard index; if worst performer finishes above 70% of initial level, par; otherwise, investors will be exposed to the decline of the worst performing index from its initial level
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| Call: | If each index closes at or above initial level on July 24, 2023, notes will be called at par plus a 13.4% call premium
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| Initial index levels: | 3,961.63 for S&P, 31,899.29 for Dow
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| Trigger buffer levels: | 70% of initial levels
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| Pricing date: | July 22
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| Settlement date: | July 27
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| Agent: | Goldman Sachs & Co. LLC
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| Fees: | 2%
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| Cusip: | 40057MLX5
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